The end is nigh for Bolton Wanderers. The Trotters could be liquidated as early as Wednesday after a failed takeover attempt.
Fears Of Liquidation For Bolton Wanderers
EFL Deadline Of Tuesday Remains Standing
The latest attempt to rescue Bolton Wanderers has collapsed. Administrators have warned that the “process of closing down the company” could begin as early as Wednesday.
The Trotters, managerless since Phil Parkinson’s resignation last week, has a deadline of 17:00 BST on Tuesday to complete the sale. The Lancashire club could receive an extension but, if no offer is resolved, then they will face expulsion from the EFL.
Administrators, however, warn that the well-supported 145-year-old club is not in a viable position to carry on trading. That would lead to the club’s liquidation and the loss of over 150 jobs.
Collapsed Takeover Deal
Paul Appleton, join administrator for Bolton Wanderers, said in a club statement that the deal collapsed on Saturday. Despite his team working all hours to resolve a deal, they remain some way from a solution.
In a statement, he said: “Unless there is a change of position from any of the parties involved, the process of closing down the club and ultimately placing Bolton Wanderers into liquidation will begin this week.”
In reference to the collapsed deal, he added: “At this stage, there seems little point in apportioning blame because that makes no difference to the staff, players, management, supporters and the community who have once more seen their club taken back to the brink.
“On Sunday evening, there was some tentative dialogue but we are still some way from reaching a solution. I am appealing to those parties whose position seems intractable to do everything to reach a compromise.
“In just over 24 hours, the club will have its membership of the EFL revoked. Over and above that, the club is currently not in a position to carry on trading. As such, the process of closing down the company will commence on Wednesday.”
A club which finished in the Premier League’s top ten and competed in the UEFA Cup just twelve years ago could be facing a sad and inevitable demise.
Main Photo
